4, the total transaction count on Ethereum was 459,451 as compared to 421,019 on Bitcoin. 4, surpassing the transaction count for Bitcoin ( BTC) on several occasions.ĭata provided by Bitinfocharts shows that on Sept. That would suggest Ethereum's 16% bounce to the upside since 29 August will continue apace,' Rogers wrote.įurther evidence of rising interest can be found in the transaction count data, which shows that unique Ethereum transactions jumped by 40.3% between Aug. 'More volume means there is greater liquidity in one asset or another, which is desirable from a trading perspective as there are plenty of buyers and sellers. That stands in stark contrast to data from the past three years, which shows that 'Bitcoin futures volume has generally exceeded its closest rival by a ratio of between 2:1 and 5:1,' the report said.Īugust marked only the second time in history that the Ether futures volume surpassed $1 trillion, indicating that interest in Ethereum is rising as the Merge draws closer.

Traders have been preparing to capitalize on the hype around the Merge by piling into Ether derivatives for a potential 'buy the rumor, sell the news' type of event, with data showing that the Ether futures market has risen significantly since the beginning of August.Īccording to a new report from Tom Rogers, head of research at ETC Group, last month was the 'first time since records began that Ethereum futures trading volume surpassed Bitcoin, at $1.07 across the month.'Įther vs. (Kitco News) - Things are heating up for the top smart contract platform Ethereum ( ETH), which is less than a week away from the last step in its transition to a proof-of-stake, known as the Merge. Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions.

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